Zweig DiMenna Associates LLC Buys 22,800 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Zweig DiMenna Associates LLC lifted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 23.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 120,000 shares of the company’s stock after acquiring an additional 22,800 shares during the period. Zweig DiMenna Associates LLC’s holdings in Procore Technologies were worth $8,992,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Dragoneer Investment Group LLC boosted its stake in Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after purchasing an additional 1,609,607 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock worth $97,599,000 after buying an additional 1,575,534 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Procore Technologies in the 3rd quarter valued at $88,572,000. PointState Capital LP bought a new stake in shares of Procore Technologies during the third quarter worth $81,306,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after acquiring an additional 1,297,151 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the transaction, the insider now directly owns 84,539 shares in the company, valued at $6,440,181.02. This represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 33,332 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the completion of the sale, the director now owns 1,282,648 shares in the company, valued at $105,087,350.64. This represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,475 shares of company stock valued at $10,824,010. Company insiders own 29.00% of the company’s stock.

Procore Technologies Price Performance

Shares of PCOR opened at $78.95 on Friday. The firm has a market capitalization of $11.74 billion, a PE ratio of -157.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The company’s 50-day moving average is $77.63 and its 200-day moving average is $67.49.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Equities analysts forecast that Procore Technologies, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on PCOR. Piper Sandler upped their target price on shares of Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. KeyCorp lifted their price objective on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. JMP Securities increased their target price on Procore Technologies from $75.00 to $90.00 and gave the company a “market outperform” rating in a research note on Monday, December 2nd. UBS Group initiated coverage on shares of Procore Technologies in a report on Monday, December 2nd. They set a “buy” rating and a $105.00 price objective for the company. Finally, BMO Capital Markets raised their price objective on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

About Procore Technologies

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.